The Holesky testnet represents a significant advancement in the scalability of the Ethereum ecosystem, and at Stakely, we are committed to being an active part of this development.
With a deployment of 50,000 validators, our participation in Holesky further demonstrates our commitment to innovation in the blockchain space. Don't miss the grand launch on September 15th, an ideal date to commemorate the anniversary of the most anticipated moment of 2022, The Merge, when Ethereum transitioned to Proof-of-Stake.
What is the Holesky Testnet?
A testnet is a trial version of a blockchain, designed for developers to test new functionalities before implementing them on mainnet. In this case, Holesky is designed to replace Goerli as the primary testnet for staking, infrastructure, and protocol development in Ethereum starting in 2023.
Unlike Goerli, which supports 512,000 validators, Holesky aims to support 1.4 million validators at launch. This increase in validator capacity will allow for more extensive and robust testing!
What is the future of Goerli?
With the arrival of Holesky, Goerli will be deprecated, and its budget will be redirected to the new testnet. Given the challenges that Goerli's testnet faced, such as token supply issues for testing, this new testnet will mark a turning point for Ethereum developers.
Pushing the boundaries on Holesky
One of the most intriguing features of this launch is that each validator signs and proves their action with a mathematical proof called BLS. These signatures are aggregated, and Holesky will test the limits of this aggregation. Some say that with 2 million validators, it would no longer be possible to prove this mathematical sum, and we are eager to see how this aspect unfolds!
Why is Holesky so important?
Holesky comes at a crucial time for Ethereum, which is in the midst of transitioning to a more scalable, secure, and efficient network. This testnet will allow testing innovations that could have a significant impact on the future of the blockchain, helping to iron out details before the official mainnet launch. Additionally, it has been announced that Holesky will receive support until the year 2028, indicating the long-term importance of this testnet in the Ethereum ecosystem.
Stakely's involvement in Holesky
Stakely couldn't sit out this significant milestone in the Ethereum ecosystem. That's why we're thrilled to announce that Stakely will be part of this exciting chapter in history. We'll be among the validators in the genesis set, deploying a total of 50,000 validators to stress test the system at scale.
Despite claims that having over 10,000 validators on a remote signer could pose challenges, we at Stakely have decided to take up the gauntlet. We've successfully set up 50,000 validators on a remote signer, showing that it's not only possible but can also operate efficiently and effectively. The results speak for themselves: our validators are actively proposing blocks!
Our goal with the massive deployment on Holesky is to emulate and stress our mainnet Ethereum setup, but within a test environment. We aim to discover and understand its limits, always ensuring optimal health for our infrastructure. In fact, we can confirm that the results have been more than favorable! Moreover, this deployment will allow us to simulate and enact our Internal Disaster Recovery Plan.
Our commitment to the community
But we don't stop there. We've developed an Ethereum faucet for the Holesky testnet, where we will redirect what's generated by these validators to supply the faucet funds, thus benefiting the developer community.
Future collaborations and tests in Holesky
As we move forward, we continue to explore new opportunities with our collaborative projects. We have already initiated our plans to engage with liquid staking protocols and DVT in Holesky, and we're in the process of deploying validators for Lido. Our vision is clear: to launch up to 10,000 Stakely validators with Lido in Holesky in the near future.
Additionally, in our future plans, we aim to collaborate with various DVT protocols, like Obol Network, with whom we will work closely to test their technology in Ethereum's test environment.
Conclusion
The Holesky testnet is more than just a update; it's a step forward in the evolution of Ethereum and in democratizing access to blockchain technology. At Stakely, nothing excites us more than being part of this development and pushing the boundaries of the Ethereum network!